Well, it doesn't really matter if you get the right output. Check your slapd i.e.:
bash-2.05$ elfdump /usr/bin/sparcv9/ps | grep e_machine
e_machine: EM_SPARCV9 e_version: EV_CURRENT
bash-2.05$ elfdump /usr/bin/sparcv7/ps | grep e_machine
e_machine: EM_SPARC e_version: EV_CURRENT
and make sure you're getting sparcv9 code? And yes, I believe -m64 is the preferred flag for that in Sun Studio 12.